Electronic payment refers to the realization of circulation and payment of fund in a computer network system in a form of electronic data storage and transfer, using commercial electronic tools and all kinds of electronic money as media and computer technology and communication technology as means.
In recent years, with the combination of the technologies such as the Internet, mobile communication and computer and so on, mobile electronic commerce represented by mobile payment emerges as the times require. As a new electronic payment manner, the mobile payment possesses quite a few characteristics. For instance, payment can be made anywhere and anytime conveniently, fast, and at a low cost. Consumers can fulfill financial management or transactions, and enjoy the convenience brought forth by the mobile payment, as long as they have a mobile phone. Today, mobile phone payment is becoming a new highlight of electronic commerce.
In addition, a recent survey shows that 82% of the interviewees are concerned that if their mobile phones are lost or stolen, someone will use the information stored in their mobile phones (including the smart card) for fraud. Meanwhile, 90% of the interviewees worry that their personal data and financial data will be lost if their mobile phones are lost, and 72% of the interviewees admit that the information stored in their mobile phones is very important and irreplaceable. Since a user use a mobile phone to take part in a variety of activities, such as electronic payment and so on, loss of the mobile phone is surely a disaster for the user. In the survey, 91% of the interviewees even suspect the loss of a mobile phone for electronic payment to be a destructive strike to them. Meanwhile, as people are increasingly dependent on mobile phones, service providers must let their customers feel secured. It is a good thing to use mobile phones more widely. However, the mobile operators must enhance the security and management level of users' personal data, so as to be well prepared for the potential dangers. Regarding the handling of losing and stealing of a mobile phone for electronic payment, there are some solutions proposed. However, these solutions more or less have some shortcomings, such as: the system is greatly different from the current payment flow, and requires great changes; or the system is not secure enough, and the payment information of the user are unlawfully used by others to forge payment; or the system fails to deal with the loss of a mobile phone in time, which results in huge loss for the user and makes the user feel insecure.
No effective solution regarding the handling concerning losing and stealing of a mobile phone for electronic payment is provided currently. In the related art, the electronic payment security system is greatly different from the current payment flow and requires great changes to be made on the current payment flow, or great inconvenience with the users is resulted from failing to take into account the short message delay, loss, etc. or failing to consider the balance between system load and security of user's smart card.